Zennor's Piproid

Post by **plateman** » Mon May 11, 2015 11:40 am

qvintus » Mon May 11, 2015 10:46 am wrote:
plateman » 11 May 2015, 12:16 wrote:So far this bot seems fairly resilient, I note that a few on here had losses on Friday, I assume that they have a SL on their trades. I trade live with no SL/TP on the trades, a 3% basket closure and a 15% shirt protection.
Friday it went about 9% down but recovered for a 3% basket closure this morning.
Nice
But your RR is very bad, 5:1. Only for the brave.

I know what you mean but a basket of trades will normally cope with nearly all situations, that is the point of trading a basket of trades. If I had set a better RR of say 2:1 I would have been stopped out on Friday, although having said that eventually a catastrophic situation will arise and "Shirt Protection" is enabled for that very reason.

AGT · Post by **AGT** » Mon May 11, 2015 1:58 pm

@plateman :hi:

Yes bro, I see what you mean. BUT ! You know that for sure: the biggest loss is ever ahead !
Or in other words: whatever may happen in this crazy FX market - it will happen sooner or later, for sure as well ! SO: at one day, suddenly perhaps, the price will mark the 15 %, by a long shot ! And yes, you will save your shirt, right ! But you will loss all the nice gains you got after exhausting trading days or weeks even. That will be a very sad and unhappy day for you like for any other trader among us here !
And believe me: that fu...ng day will come, as sure as eggs is eggs ! AND the worst part of the story: the price will hit that nasty 15% twice in a row ... oh my goodness, these will be a black days for you ! Dont wish you all that ... but unfortunately it will happen, certainly.

qvintus · Post by **qvintus** » Mon May 11, 2015 2:50 pm

It is very interesting reading about different mm settings regarding basket % SL and TP.
Lets see how the results would be after some weeks, the positive RR that someone used in the thread would be nice to follow.

Post by **plateman** » Mon May 11, 2015 3:02 pm

AGT » Mon May 11, 2015 1:58 pm wrote:@plateman :hi:

Yes bro, I see what you mean. BUT ! You know that for sure: the biggest loss is ever ahead !
Or in other words: whatever may happen in this crazy FX market - it will happen sooner or later, for sure as well ! SO: at one day, suddenly perhaps, the price will mark the 15 %, by a long shot ! And yes, you will save your shirt, right ! But you will loss all the nice gains you got after exhausting trading days or weeks even. That will be a very sad and unhappy day for you like for any other trader among us here !
And believe me: that fu...ng day will come, as sure as eggs is eggs ! AND the worst part of the story: the price will hit that nasty 15% twice in a row ... oh my goodness, these will be a black days for you ! Dont wish you all that ... but unfortunately it will happen, certainly.

Yes agree with all that of course.

In my opinion R/R is a little overrated, you can open trades with any R/R you choose but what counts at the end of the day is pounds in pocket. Personally I keep to a maximum balance in each of my live accounts with profits being transferred to my bank account so they are not available to lose should the shirt protection fail.

I do think that sometimes we forget that the risk of failure is always there in any business be it selling fruit and veg or trading forex, this risk cannot be completely removed but if I blow an account it is a manageable loss.

pmcenery · Post by **pmcenery** » Mon May 11, 2015 7:56 pm

Thanks for all the replies about the R:R that you guys are running. I discovered that I had not really setup MPTM correctly, and with out of the box settings, you only have 1% take profit on the basket, and default settings for Zennor's Pipdroid results in a stop loss only on the main trade, but no stop loss on the multi trades!! In summary, a miracle that I've done so well with it. I've changed my basket configuration now to manage trades by magic number, and I'm running with 1% basket SL, and autocalculated TP based on the number of trades (1,2,3%). Set file attached. Will have to see how this goes over the next few weeks.

MPTM.set

Post by **SteveHopwood** » Mon May 11, 2015 9:46 pm

AnotherBrian » Sun May 10, 2015 3:27 am wrote:I'm a bit lazy, and a bit stupid, but I'm smart enough to know that I can't turn off the EA from 30,000 feet in the air. I travel for work sometimes and don't have the luxury, connection, or time (or memory) to turn the bot off manually, so I let it do it's thing with this code bit.

Classic example of why I sometimes mention that traders should also be coders. They don't have to be able to code a nuclear power plant, but a few basic CrapQl4 thingies makes a hell of a lot of difference to their trading comfort.

Post by **lonelytrader** » Tue May 12, 2015 3:20 pm

I keep seeing everyone posting about how they have a TP for the basket, and I wanted to let this idea float.

What if rather then having a hard TP, the manager lets the trade continue but locks in a basket profit and trails it.
I am reading many interesting books about trend trading, which this advisor is, and they all have the same common point, cut your losses but let your winners run without a preset limit. why let the criminal of the hook at 3 or 4% TP, make it hurt when you catch a big run.

what do you of the concept?

Post by **ALoveSvpreme** » Tue May 12, 2015 4:40 pm

lonelytrader » Tue May 12, 2015 7:20 am wrote:I keep seeing everyone posting about how they have a TP for the basket, and I wanted to let this idea float.

What if rather then having a hard TP, the manager lets the trade continue but locks in a basket profit and trails it.
I am reading many interesting books about trend trading, which this advisor is, and they all have the same common point, cut your losses but let your winners run without a preset limit. why let the criminal of the hook at 3 or 4% TP, make it hurt when you catch a big run.

what do you of the concept?

Ive been testing this for a couple weeks with a 1% JS but keep getting closes at 0 it would be nice to have a BE with Break even profit and jumping stop thereafter but the basket manager were using doesnt have that capability as far as i can see. It has a BEP setting but no setting for BE level in the basket settings it seems. Please correct me if im wrong id love to have the same settings for the basket as we do for steves usual shell

Post by **milanese** » Tue May 12, 2015 4:48 pm

ALoveSvpreme » Tue May 12, 2015 4:40 pm wrote:
lonelytrader » Tue May 12, 2015 7:20 am wrote:I keep seeing everyone posting about how they have a TP for the basket, and I wanted to let this idea float.

What if rather then having a hard TP, the manager lets the trade continue but locks in a basket profit and trails it.
I am reading many interesting books about trend trading, which this advisor is, and they all have the same common point, cut your losses but let your winners run without a preset limit. why let the criminal of the hook at 3 or 4% TP, make it hurt when you catch a big run.

what do you of the concept?
Ive been testing this for a couple weeks with a 1% TP but keep getting closes at 0 it would be nice to have a BE with Break even profit and jumping stop thereafter but the basket manager were using doesnt have that capability as far as i can see. It has a BEP setting but no setting for BE level in the basket settings it seems. Please correct me if im wrong id love to have the same settings for the basket as we do for steves usual shell

You can too use for this ---click--> http://www.stevehopwoodforex.com/phpBB3 ... =21&t=4081
this one has Jumping Stop functions for the basket

Cheers

Tommaso

Post by **basch312** » Wed May 13, 2015 10:19 am

Hi all,

I got 3 6% losses, one on friday, one yesterday and one today. All of them due to "high impact" news (is up to you to decide what news are important to each pair, I'm not interested in that matter).

I would like to wait a couple of weeks before reaching to any conclusion. Do you think is a good idea to disable this EA when there are news? Did you experience (with this EA) any good situation with news (quickly reached the TP or something like that)?

I'm more afraid about getting out because of the high spread rather than to be or not in the good direction...

Regards!